Mortgage Rates Rising Next Year?
Posted by Marin Modern Team on Tuesday, December 10, 2013 at 8:03:42 PM
By Marin Modern Team / December 10, 2013
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Job creation is up. Unemployment is down.
Hot on the heels of a very strong 3rd Quarter GDP report (+3.0%); The
November Jobs Report was released a few days ago and it revealed that employers
created 203K jobs last month -- well above the 188K expected. The
Unemployment Rate fell to a 5-year low of 7%. The general consensus now
is that the Fed will have no choice but to begin tapering sooner than
later…
Here are the rates as of Dec. 6th:
| CONFORMING RATES ($200,000 - $417,000) 0 POINTS • 30 Year Fixed: 4.625% (4.70% APR) • 5/1 ARM: 3.125% (3.20% APR) |
JUMBO RATES ($625,501 - $2,000,000) 0 POINTS • 30 Year Fixed: 4.500% (4.55% APR) • 5/1 ARM: 3.000% (3.05% APR) |
| CONFORMING (HIGH-BALANCE) RATES ($417,001 - $625,500 cap by county) 0 POINTS • 30 Year Fixed: 4.875% (4.94% APR) • 5/1 ARM: 3.500% (3.56% APR) |
RATE TRENDS Rates are UPcompared to last week. Rates are UPcompared to last month. Rates are UP compared to one year ago |
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